Round-up: Sportingbet, Cap-XX, Liontrust

25th Nov 2009 12:14

Fund manager Liontrust's assets under management have continued to fall, while profits also took a tumble in the six months to September.Profit before tax slumped to £0.5m from £6.1m, while managed fund dropped from £1.3bn at end September to £1.2bn currently. The interim dividend maintained at 2.5p. After this year's performance, there will be a salary freeze for executive directors next year and that they will receive no annual bonus for this year, Liontrust said.A run of bad results in Australia kept profits at Sportingbet in check in the first three months of its latest year, despite net gaming review rising by 26% to £48.6m. Pre-tax profit to September still rose by 25% from £5.3m to £6.5m. Underlying operating profit for the three months was £7.1m (2008: £6.5m). "Trading since the start of the second quarter has remained robust with the additional benefit of Australian margins returning to more normal levels. The Group performance to date gives the board confidence with regard to the remainder of the financial year," it said.CAP-XX, developer of the supercapacitor-driven BriteFlash power architecture for mobile phones, has launched its first supercapacitor enabled smart phone. The handset, with its secure encrypted communications, is aimed at Government and security services.